MILTON, Ga., Sept. 19, 2011 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE), a global leader in stored electrical energy solutions, announced the closing of an exchange offer pursuant to which it offered to exchange up to $675,000,000 in aggregate principal amount of its 8⅝% Senior Secured Notes due 2018 (the "New Notes"), which have been registered under the Securities Act of 1933 (the "Act"), for an equal aggregate principal amount of its outstanding 8⅝% Senior Secured Notes due 2018 (the "Old Notes").
The Old Notes were issued on January 25, 2011, in a transaction exempt from registration under the Act. The terms of the New Notes are substantially identical to the terms of the Old Notes, except that the New Notes have been registered under the Act and are not be subject to restrictions on transfer or provisions relating to additional interest applicable to the Old Notes. As of 5:00 p.m., New York City time, Tuesday, September 13, 2011, which was the expiration date of the exchange offer, $674,450,000 aggregate principal amount of the outstanding Old Notes, representing 99.92% of the outstanding aggregate initial principal amount of the Old Notes had been validly tendered in exchange for an equal aggregate initial principal amount of the New Notes.
This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of a consent with respect to any of the Old Notes or New Notes. The exchange offer was made only pursuant to a prospectus and letter of transmittal that have been filed with the Securities and Exchange Commission (the "SEC") as part of Exide Technologies' Registration Statement on Form S-4, as amended (File No. 333-174733). The Registration Statement was declared effective by the SEC on August 12, 2011.
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups -- Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World -- provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.
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